China Automotive Systems Inc Reveals Retreat In Q2 Profit

China Automotive Systems Inc (CAAS) reported earnings for second quarter that declined from the same period last year.

The company's bottom line totaled $0.99 million, or $0.03 per share. This compares with $8.88 million, or $0.28 per share, in last year's second quarter.

Analysts had expected the company to earn $0.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.9% to $125.78 million from $117.66 million last year.

China Automotive Systems Inc earnings at a glance:

-Earnings (Q2): $0.99 Mln. vs. $8.88 Mln. last year.
-EPS (Q2): $0.03 vs. $0.28 last year.
-Analysts Estimate: $0.17
-Revenue (Q2): $125.78 Mln vs. $117.66 Mln last year.

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